Cape Town – The Automobile Association of South Africa (AA) has predicted a significant drop in petrol prices in September.
In a statement, AA said that the forecast is based on current unaudited mid-month data from the Central Energy Fund.
“According to the data, 95ULP is expected to drop by around R2.60/l, and 93ULP by around R2.45/l. The wholesale price of diesel is expected to decrease by around R2.30/l and the price of illuminating paraffin by almost R2.00/l.
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“The main drivers behind the decreases are a strengthening Rand and lower international oil prices,” said AA.
The association said that the reductions will be significant because they will not be offset by refunds to the General Fuel Levy (GFL).
It also cautioned that this is only mid-month data and that the picture may change by the end of the month.
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Compiled by Sinothando Siyolo
